July 31, 2009 -- In recognition of his long-standing contribution to the profession, Stephen A. Zeff, the Herbert S. Autrey Professor of Accounting at Rice University’s Jones Graduate School of Business, is the first academic to be awarded honorary membership of the Institute of Chartered Accountants in England and Wales (ICAEW). As only the fourth person to be awarded the designation, he joins HRH The Prince of Wales, Sir Adrian Cadbury, and Chinese Vice Minister of Finance Wang Jun as honorary members of the ICAEW.

Dr. Zeff is a leading expert in the history of financial reporting and a contributor to the ICAEW’s international work. He is the past president of the American Accounting Association (AAA), a long-time member of the European Accounting Association (EAA) and a member of the UK Accounting Standards Board’s academic panel.

ICAEW President Martin Hagen said, “Professor Stephen Zeff is respected and admired throughout the world. He has done more than anyone else to further our understanding of how the accounting profession and financial reporting standards in particular have developed internationally in recent decades. I am delighted that we are able to recognize his unique contribution to the international profession by awarding him honorary membership.”

Honorary membership of the ICAEW was created in 2006 and is awarded to those individuals who have made significant contributions to the accountancy profession or to the finance or business world, who have achieved professional or academic prominence in Institute-related disciplines or have made a significant contribution to the work of the Institute. Dr. Zeff will be presented the award in London later in the year.

The ICAEW, a world leading professional accountancy body, provides leadership and practical support to over 132,000 members in more than 165 countries, working with governments, regulators, and industry in order to ensure the highest standards are maintained.